For decades, the University of Oklahoma has been recruiting and heavily investing in National Merit Scholars – academically advanced students who score in the top 1 percent on a standardized test.

Former President David Boren was the biggest champion of the university’s feat of enrolling more National Merit Scholars than any other college, giving them tuition waivers and stipends for technology, housing and studying abroad.

Over the years, OU has likely spent hundreds of millions of dollars to attract National Merit students, many from out of state, in an effort to raise the quality of student...